Why some people prefer Bitcoin over fiat ? - page 55.

chocolah29

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Quote from: Pattart on July 10, 2017, 08:37:23 PM

Quote from: malikusama on July 07, 2017, 12:05:47 PM

People prefer bitcoins over fiat because it is now becoming easy to use and its worth is increasing day by day. Bitcoin is a digital currency like other currencies, if people can spend their dollars in gambling, porn sites and drugs dealing then why they can't use their bitcoins after all it is also a currency.

Because users choose bitcoin as an investment instead of as their currency. Of course they would prefer fiat as their currency because it is easier to use and accept wherever, bitcoin is preferred because the profitable bitcoin investment and fiat can not do that

Personally, i would prefer fiat than bitcoin of course fiat is widely use by all levels of society that unlike bitcoin only the middle to high class people knows and can use bitcoin. No transaction fee and no long waiting of confirmation. Less hassle and more convenient. Let's admit there's pros and cons in everything

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Quote from: Pattart on July 10, 2017, 08:37:23 PM

Quote from: malikusama on July 07, 2017, 12:05:47 PM

People prefer bitcoins over fiat because it is now becoming easy to use and its worth is increasing day by day. Bitcoin is a digital currency like other currencies, if people can spend their dollars in gambling, porn sites and drugs dealing then why they can't use their bitcoins after all it is also a currency.

Because users choose bitcoin as an investment instead of as their currency. Of course they would prefer fiat as their currency because it is easier to use and accept wherever, bitcoin is preferred because the profitable bitcoin investment and fiat can not do that

Ideally, it should be used for both the purposes. It should be used as an investment asset, and also as a mode of payment. But Bitcoin is becoming unsuitable for making payments these days, because of the long confirmation duration and high transaction fees. If the tx fee is higher than the one charged by VISA/MASTER, then why should anyone use BTC to make a payment?

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Quote from: malikusama on July 07, 2017, 12:05:47 PM

People prefer bitcoins over fiat because it is now becoming easy to use and its worth is increasing day by day. Bitcoin is a digital currency like other currencies, if people can spend their dollars in gambling, porn sites and drugs dealing then why they can't use their bitcoins after all it is also a currency.

Because users choose bitcoin as an investment instead of as their currency. Of course they would prefer fiat as their currency because it is easier to use and accept wherever, bitcoin is preferred because the profitable bitcoin investment and fiat can not do that

8Habits

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Quote from: malikusama on July 07, 2017, 12:05:47 PM

People prefer bitcoins over fiat because it is now becoming easy to use and its worth is increasing day by day. Bitcoin is a digital currency like other currencies, if people can spend their dollars in gambling, porn sites and drugs dealing then why they can't use their bitcoins after all it is also a currency.

The good thing with bitcoin is that we can use it without giving away our identity when it comes to online casinos that accept bitcoin - unlike in fiat money. You are also right that there is a good potential that bitcoin will increase its prices overtime.

malikusama

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People prefer bitcoins over fiat because it is now becoming easy to use and its worth is increasing day by day. Bitcoin is a digital currency like other currencies, if people can spend their dollars in gambling, porn sites and drugs dealing then why they can't use their bitcoins after all it is also a currency.

Similificator

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Quote from: malekbaba on December 22, 2016, 04:57:22 AM

Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.

Well, sad to say we can't do anything about that. It is human nature to take advantage of anything that one can. That is probably why criminals themselves do it. Yes, i feel you. It is really sad to think about it. But we just have to accept the fact that we are powerless and cant do anithing to change the way things are now.

So just a friendly advice; do not let yourself get so troubled on things you cannot control. Instead, as a person knowing better do what you know is right. Chhers.

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Simply because Bitcoin's features is a lot better than fiat , for example you can't earn money by holding fiat, maybe you earn very little amount if you hold big amount of money in your bank for several months or years, but with bitcoin you can earn good amount just by holding it into your wallet, already some people created wealth this way. In addition with the fast transactions of bitcoins.

TheGreatPython

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Quote from: 8Habits on July 02, 2017, 11:55:12 PM

Quote from: Xenophoto on June 30, 2017, 05:56:14 AM

Quote from: malekbaba on December 22, 2016, 04:57:22 AM

Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.

These "some people" are the bitcoin users themselves. Personally, if I can get paid with bitcoins, I would accept it wholeheartedly. Just the price increase of bitcoin is enough reason for us to use bitcoin and hold it. You're making money by just being in the game. You don't have to trade or anything, you simply have to hold.

I believe there is no misuse of something. If you buy a gun and you killed your own father using it, did you misuse the gun if the inventor of the gun made it for the purpose of hunting deers and pigs? People are going to use bitcoin for whichever way they want and we can never change that. If bitcoin is being accepted for drug activities, porn, and any other shady activities, I believe bitcoin is just doing its purpose. To be used as a currency anonymously.

Wow, total sense and I could not agree more with you mate. This is really a good view of using bitcoin and its implications. I am now accumulating bitcoin in the side of my main income source and all of the bitcoin accumulated is being saved for years.

This is so amazing you don’t agree with a person with sense lol...
Anyway this is good to collect the bitcoin beside your other source of income. I prefer the BTC more than anything else because I know the potential of the bitcoin. I am pretty confident about the bitcoin that it can give me much better result than keeping fiat.

8Habits

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Quote from: Xenophoto on June 30, 2017, 05:56:14 AM

Quote from: malekbaba on December 22, 2016, 04:57:22 AM

Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.

These "some people" are the bitcoin users themselves. Personally, if I can get paid with bitcoins, I would accept it wholeheartedly. Just the price increase of bitcoin is enough reason for us to use bitcoin and hold it. You're making money by just being in the game. You don't have to trade or anything, you simply have to hold.

I believe there is no misuse of something. If you buy a gun and you killed your own father using it, did you misuse the gun if the inventor of the gun made it for the purpose of hunting deers and pigs? People are going to use bitcoin for whichever way they want and we can never change that. If bitcoin is being accepted for drug activities, porn, and any other shady activities, I believe bitcoin is just doing its purpose. To be used as a currency anonymously.

Wow, total sense and I could not agree more with you mate. This is really a good view of using bitcoin and its implications. I am now accumulating bitcoin in the side of my main income source and all of the bitcoin accumulated is being saved for years.

xFiber

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I love how you say 'some' users. I think the majority of people on here prefer Bitcoin of fiat and there are couple reasons for that. First of all there's a limited supply of bitcoin wich completely cancels out inflation (banks can decide when they print more money).

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Quote from: malekbaba on December 22, 2016, 04:57:22 AM

Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.

These "some people" are the bitcoin users themselves. Personally, if I can get paid with bitcoins, I would accept it wholeheartedly. Just the price increase of bitcoin is enough reason for us to use bitcoin and hold it. You're making money by just being in the game. You don't have to trade or anything, you simply have to hold.

I believe there is no misuse of something. If you buy a gun and you killed your own father using it, did you misuse the gun if the inventor of the gun made it for the purpose of hunting deers and pigs? People are going to use bitcoin for whichever way they want and we can never change that. If bitcoin is being accepted for drug activities, porn, and any other shady activities, I believe bitcoin is just doing its purpose. To be used as a currency anonymously.

Babylon

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The answer is simple, it is convenient, easy to use, and accessible. Compared to the latter, imagine going shopping bringing a lot of money is not even advisable.

mrjoy15

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Bitcoin (BTC) idea is good, there many countries Bitcoin has used like as fiat even most countries don't enforce the use of bitcoin hence not a fiat currency. Bitcoin more like gold, or is it just another fiat currency. Bitcoin need more professional like that stable in value. Here, main problem price fluctuations.

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Quote from: malekbaba on December 22, 2016, 04:57:22 AM

Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.

It is very simple because the bitcoin is decentralized. There are many reasons why many people prefer the bitcoin over the fiat. The one of the reason is the anonymity and the deflation.

gracia0023

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The reason why some people prefer bitcoin over fiat is the fiat currency and any national currency decreed legal by the national government, but is intrinsically valueless money. Fiat currencies no longer represent gold deposits or other things of known market value. They are just the accepted pieces of national paper, printed by a private central bank and loaned to the national government, with interest. All fiat currencies are debt instruments. Example is the U.S. Dollar and other fiat currencies certainly have their own inherent advantages, which mostly revolve around their acceptance by the banking systems that create them. These will prove fleeting in the coming years, whereas Bitcoin’s advantages are built into the technology, can be amended or updated through the protocol, and are built to stand the test of time.

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Quote from: BossMacko on June 26, 2017, 05:17:51 AM

There are 2 kinds of person 1 is people who don't know Bitcoin, 2nd is people who knows Bitcoin. From the 2 kinds of people they have different views. If you will ask here then probably most of the answers are they prefer Bitcoin over flat, but if you will ask people who doesn't know Bitcoin then they'll answer flat over Bitcoin. As for me my answer is i still prefer flat because i will not be able to use Bitcoin for my daily expenses.

You are right mate. We should not prefer using one over the other and instead, use them both to our advantage - like using fiat money for basic financial transactions both offline and online and using Bitcoin in transactions that accept it as a form of payment.

BossMacko

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There are 2 kinds of person 1 is people who don't know Bitcoin, 2nd is people who knows Bitcoin. From the 2 kinds of people they have different views. If you will ask here then probably most of the answers are they prefer Bitcoin over flat, but if you will ask people who doesn't know Bitcoin then they'll answer flat over Bitcoin. As for me my answer is i still prefer flat because i will not be able to use Bitcoin for my daily expenses.

Proton2233

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There is no person on Earth who has no Fiat currency. So the idea that there are people who prefer bitcoins it's not quite right. Everyone likes the idea of bitcoin, but the credibility of crypto is still not very high. That is why we see the panic in the market when the price of bitcoin falls down.

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Quote from: Kotone on June 26, 2017, 03:30:20 AM

Quote from: denny27 on June 26, 2017, 02:59:00 AM

One of the things some peoples prefer bitcoin because with traditional banks, it can take some time to even open a bank account. Setting up a trading account for payments will be even more complicated. While a Bitcoin address can be made very quickly and at no cost. Bitcoin is easy to use in delivery problems.

Yes thats why people want it because of that. It is easy to earn money and transact with bitcoin. And due to the high value of bitcoin we can easily save money and have an investment it could be easy for us. I prefer bitcoins too because it is fpr me to create money their than in physical ones.

With the recent price rise of bitcoin, signature campaign earnings are quite good already and a good addition to our income. Not to mention that it is very easy to use bitcoin in online transactions that accept bitcoin.

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Quote from: denny27 on June 26, 2017, 02:59:00 AM

One of the things some peoples prefer bitcoin because with traditional banks, it can take some time to even open a bank account. Setting up a trading account for payments will be even more complicated. While a Bitcoin address can be made very quickly and at no cost. Bitcoin is easy to use in delivery problems.

Yes thats why people want it because of that. It is easy to earn money and transact with bitcoin. And due to the high value of bitcoin we can easily save money and have an investment it could be easy for us. I prefer bitcoins too because it is fpr me to create money their than in physical ones.

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